Limbix, a digital therapeutics for adolescent mental health, raised $9 million in a Series A funding round led by GSR Ventures, an early-stage investment firm based in Palo Alto.
Existing investors, including Sequoia Capital, Storm Ventures, NextGen Venture Partners, and BIXINK Therapeutics, also participated in the funding round.
The new funding enables further research and development of the company’s flagship product, Limbix Spark, a prescription digital therapeutic designed to treat adolescents with depression.
Limbix Spark is a multi-week cognitive behavioral therapy-based program focused on the completion of value-based activities that spark feelings of pleasure or mastery. With increased screening for depression in primary care, treating adolescent depression often falls to pediatricians who have limited effective treatments to offer patients. Once FDA cleared, Limbix Spark will be available as a new treatment option for pediatricians to prescribe to their patients.
“GSR Ventures has tremendous expertise in medicine and digital health, making them an ideal partner for our company,” said Ben Lewis, CEO and co-founder of Limbix.
“In the coming years, we’ll be running more trials on Limbix Spark, forming commercialization partnerships, and working towards FDA clearance on Limbix Spark as a Class II medical device. Having GSR Ventures’ guidance along this path is incredibly helpful for our business.”
Image by Lukas Bieri from Pixabay